A deal struck earlier this afternoon, March 21st with Congressman Bart Stupak (D-Michigan) and other anti-abortion Democrats, to ensure that no federal funding for abortion is allowed under the health insurance reform bill, has cleared the way for its passage which will see overtime, near universal health coverage for Americans. The deal, which entails President Obama issuing an Executive Order upholding the Hyde restrictions that disallow federal funding for abortion, puts the number of votes in support of the bill well past the 216 needed for passage.
Dubbed the largest piece of domestic legislation since the New Deal, the House bill will make its way to the President for signature and become the law of the land.
Beyond the anticipated passage of the health care bill, there are a number of “fixes” that must be passed in the House and subsequently in the Senate. There are reports that 52 senators will vote to pass the “fixes” on the health care bill.
CNN reports that, President Obama will address the nation later this evening, following the bill’s passage.
Passage of the health insurance reform bill will, beginning in 2010 provide for (i) tax credits for small businesses to allow for health insurance of employees that do not have coverage (ii) coverage of children with pre-existing conditions and (iii) coverage for young people up to the age of 26 years on their parents’ health insurance.
Also included in the legislation are measures to create a market place, where individuals and small businesses could purchase health insurance as part of a group, allowing for better rates to be negotiated, better quality and more competition; tax credits for people who still cannot afford to purchase health insurance; and measures to bar insurance companies from dropping coverage of those who get sick. And, according to the Congressional Budget Office, the current legislation reduces the deficit by $138 billion in the first ten years and $1.3 trillion in the following decade, Obama said.
The bill estimates that an additional 32 million Americans, who currently have no coverage will have access to health insurance, following its passage, although this is unlikely to be immediate.
